Loop Industries Completes Convertible Preferred Financing With Reed Societe Generale Group and Sells First Technology License For An Infinite Loop Manufacturing Facility in Europe
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Loop Industries has secured a €10 million investment from Reed Societe Generale Group through a convertible preferred security at a $4.75 conversion price. Additionally, Loop has completed its first sale of an Infinite Loop technology license, generating an upfront payment of €10 million.
December 13, 2024 | 1:30 am
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Loop Industries has received a €10 million investment from Reed Societe Generale Group via a convertible preferred security, and sold its first Infinite Loop technology license for €10 million.
The €10 million investment from Reed Societe Generale Group provides Loop Industries with significant capital, potentially boosting its financial position. The sale of the Infinite Loop technology license marks a strategic milestone, indicating market acceptance and potential future revenue streams.
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